Thursday, 3 June 2021
Department of Enterprise, Trade and Employment
Covid-19 Pandemic Supports
66. To ask the Minister for Enterprise, Trade and Employment the number of businesses in County Limerick that have availed of the Covid-19 credit guarantee scheme; and if he will make a statement on the matter. [30051/21]
The COVID-19 Credit Guarantee Scheme (CCGS) is the largest loan guarantee scheme in the history of the State.The Scheme provides €2 billion in lending, for terms up to five-and-a-half years and offers a range of lending products between €10,000 and €1 million at interest rates below market rates for similar type loans. It is available to SMEs and small mid-caps (business with less than 500 employees), including primary producers (businesses engaged in the farming and seafood sectors). The Scheme is available until 31 December 2021 following a Government decision in March to extend it in line with the extension of the European Commission’s Temporary Framework on State Aid.
In order to provide the public with relevant data on the performance of the scheme, my Department publishes weekly and monthly reports on its website. These reports provide data on loans drawn under a wide variety of themes and are available at enterprise.gov.ie/en/Publications/COVID-19-Credit-Guarantee-Scheme-Performance-Reports.html.
As at 20 May, 199 businesses in County Limerick have availed of the CCGS and have drawn loans with a value of €10,832,538.
The Scheme is currently available through three commercial banks, six non-bank lenders and nineteen credit unions. This long-term policy goal of diversification adds competition in the market and ensures a wide range of loan products are available throughout the regions.
I would strongly encourage businesses to avail of the low-cost lending facilities provided under the scheme as they look towards reopening.
67. To ask the Minister for Enterprise, Trade and Employment the number of Sligo, Leitrim and Donegal enterprises that that have applied to the small business assistance scheme; and if he will make a statement on the matter. [30056/21]
The total number of Small Business Assistance Scheme for COVID (SBASC) applications received for the SBASC grant for Sligo is 45. Of that figure to date 23 have been approved for payment, and 16 are still being assessed. 6 applications have been refused.
For County Leitrim the total number of applications received is 34, to date 10 have been approved and with 18 applications have been rejected.
For County Donegal the total number of applications received is 164, to date 81 applications have been approved and 77 have been rejected.
Refusals have occurred due to eligibility requirements such as businesses not meeting the turnover criteria, turnover was not down 75% during the eligibility period, incomplete application form, the business was in receipt of CRSS or they were not in a rateable premises.
As you may be aware I recently announced an expanded SBASC phase 2 scheme which will be open for applications in early June with a closing date of 21st July. Phase 2 has been expanded to include businesses working from a non rateable premises and those whose turnover is below €50,000.
Businesses who are working from non rateable premises and meet all other eligibility criteria will receive a €4,000 grant and businesses whose turnover is below €50,000 and meet all other eligibility criteria will receive €1,000 grant. These businesses have been ineligible for schemes in the past and it is my intention to ensure that these businesses receive some state support during these difficult time. The purpose of these grants are to help meet fixed costs associated with running a business.
Further details of this expanded SBASC scheme will be available shortly on my Department's website and on Local Authority websites who will once again administer the scheme.